BEIJING: Box office earnings of theChinese film industryhave jumped a massive 64% in 2010, which is being regarded as a bad year for Bollywood. In fact, China's media regulators have predicted the local industry, regarded as a backward territory until recently, will surpassIndiaand Japan by 2015.
The year 2010 saw a massive growth in the film industry withChina's State Administration of Radio, Film and Television reporting that a total of 500 films were made during the period. China ranked third behindBollywoodandHollywoodin terms of annual film output. It put the box office earnings of the local movie industry at $1.5 billion.
The Indian media has quoted film industry sources to say that the earnings in 2010 will be around Rs 10,000 crores ($2.2 billion) after rising 10-12 per cent over the 2009 revenue. The Indian industry has been caught in the 10-12% growth trend since 2008. At present, theUnited Statesis ahead of all other markets as it notched box office revenue of $11 billion in 2010. Japan came second with $2.5 billion in earnings followed by India. China's media regulators expect China to overtake Japan by 2015.
The highest grosser in the Chinese market was a Hollywood film,Avatar, which earned $200 million accounting for over 13% of total sales. Next came a Chinese film, "Aftershock", that earned $100 million by telling the story of a earthquake. Another Chinese movie, "Let bullets fly" has made $75 million since its release in mid-December and its producers believe the total earnings will be much higher.
China's Film Bureau said in a statement that the country added 313 movie theatres. A total of 1,533 new screens were added resulting in a 25% growth in the country, which now has 6,200 screens.